Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

November 11, 2022

Consolidated Financial Results
for the Six Months Ended September 30, 2022
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:
Telephone:

Furukawa Co., Ltd.
Tokyo Stock Exchange5715
https://www.furukawakk.co.jp
Minoru Nakatogawa, President and Representative Director
Akira Mikage, General Manager, Accounting Department+81-3-6636-9502

Scheduled date to file quarterly securities report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results briefing:

November 14, 2022
–
Yes
Yes

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 toSeptember 30, 2022)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)
Net sales
Six months ended

Millions of yen

September 30, 2022
September 30, 2021

% Millions of yen

104,576
97,804

Note: Comprehensive income

6.9
30.1

September 30, 2022
September 30, 2021

3,372
3,483

Profit attributable toowners of parent

Ordinary profit% Millions of yen

(3.2)
135.1

5,219
4,089

% Millions of yen
27.6
88.5

3,448
2,311

For the six months ended September 30, 2022:¥ 4,992 million[157.9%]For the six months ended September 30, 2021:¥ 1,936 million[(79.4)%]

Basic earnings
per share
Six months endedOperating profit

Diluted earnings
per share

Yen

Yen

89.37
59.14––%
49.2(52.5)

(2) Consolidated financial position
Total assets
As ofSeptember 30, 2022

Net assets

Equity-to-asset ratio

Millions of yen
245,362

Millions of yen
102,212%40.4

229,727

100,075

42.3

March 31, 2022
Reference: Equity
As of September 30, 2022:
As of March 31, 2022:¥ 99,184 million¥ 97,253 million

2. Cash dividends
Annual dividends per shareFirst
quarter-end

Secondquarter-end

Thirdquarter-end

Fiscalyear-end

Yen
Yen
Yen
Fiscal year ended–0.00–
March 31, 2022
Fiscal year ending–0.00
March 31, 2023
Fiscal year ending
March 31, 2023–
(Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: NoneTotal
Yen

Yen

50.00

50.00

50.00

50.00

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2023 (from April 1, 2022
to March 31, 2023)(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ending
March 31, 2023

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per shareMillions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

209,500

5.2

7,000(9.5)

6,900(23.3)

4,700(27.4)

123.31

Note: Revisions to the forecast of financial results most recently announced: No* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2022

40,445,568 shares

As of March 31, 2022

40,445,568 shares(ii) Number of treasury shares at the end of the period
As of September 30, 2022

2,329,308 shares

As of March 31, 2022

1,621,936 shares(iii) Average number of shares outstanding during the period
Six months ended September 30, 2022

38,587,836 shares

Six months ended September 30, 2021

39,075,582 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.
* Proper use of earnings forecasts, and other special matters(1) Caution concerning forward-looking statements
The forward-looking statements, including earnings outlook, contained in these materials are based oninformation currently available to the Company and on certain assumptions deemed to be reasonable by theCompany. The Company makes no warranty as to the achievability of the projections. Actual business andother results may differ substantially from the statements herein due to a number of factors.
(2) Financial results briefing (for securities analysts and institutional investors)
The Company will hold a financial results briefing through livestreaming. Furthermore, the Company plans topost financial results briefing materials and a video of the results briefing on its website.

Furukawa Co., Ltd. (5715)

Attached Material
Index
1. Quarterly Consolidated Financial Statements and Significant Notes Thereto .......................................... 2(1) Quarterly consolidated balance sheet ................................................................................................. 2(2) Quarterly consolidated statement of income and consolidated statement of comprehensive
income ................................................................................................................................................ 4
Quarterly consolidated statement of income (cumulative) ................................................................. 4
Quarterly consolidated statement of comprehensive income (cumulative) ........................................ 5(3) Quarterly consolidated statement of cash flows ................................................................................. 6Supplementary Material on Financial Results for the Six Months Ended September 30, 2022...................... 7-1-Furukawa Co., Ltd. (5715)

1. Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-2-

As of September 30, 2022

14,46919,182

28,34429,844

17,205
10,813
20,8184,635(48)
96,23820,841
12,11819,640
11,546(53)
113,12124,051
54,17012,754
90,976376

23,451
54,107
12,482
90,042339

35,8606,997(720)42,136
133,489229,727

34,7787,900(820)41,859132,240
245,362Furukawa Co., Ltd. (5715)(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provisions
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplusRetained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-3-

As of September 30, 2022

15,916
9,381
13,504
1,491
142
19,42359,85914,166
8,801
31,567
1,472
147
21,42477,57952,16675
2,543
23914,768
69,793
129,652

48,81076
2,475
226
13,98065,569143,149

28,2082
54,557(2,197)80,57028,2082
56,080(3,085)
81,205

11,832
(292)
2,602
35
2,506
16,6832,821
100,075
229,727

10,956
(141)
2,586
2,160
2,417
17,9793,027
102,212245,362Furukawa Co., Ltd. (5715)(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income
Quarterly consolidated statement of income (cumulative)(Millions of yen)Six months ended
September 30, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Administrative expenses of inactive mountain
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Demolition expenses of a rental building
Loss on liquidation of subsidiaries
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-4-

Six months ended
September 30, 2022

97,80485,162
12,642
9,158
3,483

104,576
91,343
13,232
9,860
3,372

–
1,668
1,668

2,142
832
2,975

217
432
412
1,063
4,089

248
401
479
1,128
5,219

45
62
107

362
5
368

176
466
–
82
725
3,470
996
35
1,031
2,439
128
2,311

–
470
348
368
1,187
4,399
1,380(565)
814
3,584
136
3,448

Furukawa Co., Ltd. (5715)Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)Six months ended
September 30, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-5-

Six months ended
September 30, 2022

2,439

3,584(157)
(929)
508
128(876)
5
1,863(89)(52)

504(503)
1,936

1,407
4,992

1,782

4,760

153231

Furukawa Co., Ltd. (5715)(3) Quarterly consolidated statement of cash flows(Millions of yen)Six months ended
September 30, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Other, net
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Payments for retirement of property, plant andequipment
Proceeds from sale of investment securities
Proceeds from a partial refund of consideration for
acquisition from the seller by adjusting theconsideration of shares of subsidiariesOther, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period-6-Six months endedSeptember 30, 2022

3,470
1,931
(45)
176
(509)
217
(5)
(406)
1,030
2,546
(5,822)
2,582
529
(219)
(1,720)
52
1,224

4,399
2,047
(362)
–
(605)
248
(354)
(985)
(2,573)(3,070)(4,238)(5,493)589(235)(2,129)78(7,191)(3,158)(1,289)

(26)

(208)

52

493

–

420

(15)
(3,148)

(13)
(597)

7,294
(6,003)100(1,383)(0)(1,951)(149)(2,093)

26,341(10,331)
3,100(4,446)(888)(1,938)(130)
11,706243

794(3,774)
17,74813,973

4,712
14,46819,181

Furukawa Co., Ltd. (5715)

Assumptions
Six months ended
September 30,2022

Copper priceExchange rateYear-on-yearchange

Six months ended September 30,2022 (actual)$/mt

8,634(907)Third- and fourth-quarter forecast

$/mt

7,500

(2,341)

Forecast

$/mt

8,067

(1,624)Six months ended September 30,2022 (actual)

Yen/$

134.0

24.2

Third- and fourth-quarter forecast

Yen/$

140.0

25.1

Forecast

Yen/$

137.0

24.6

Supplementary Material on Financial Results
for the Six Months Ended September 30, 2022November 11, 2022
Furukawa Co., Ltd.
Net sales(Yen amounts are rounded down to millions.)
Six months
ended
September
30, 2021
Machinery business

38,650Six months
endedYear-on-year
Septemberchange30, 2022
39,933Fiscal year ending March 31, 2023
Previously
announced
forecast

Forecast

1,282

84,10082,100Year-on-yearchange5,161

Industrial Machinery segment

8,632

7,862(769)20,20018,600876Rock Drill Machinery segment
UNIC Machinery segment

15,412
14,60618,00314,0672,591(539)

35,50028,40035,60027,9004,689(405)Materials business

57,756

61,964

4,207

120,500

121,800

3,636

Metals segment
Electronics segment

50,335
3,584

53,903
3,600

3,567
15

105,200
7,300

106,400
7,000

3,404(271)

Chemicals segment

3,836

4,461

624

8,000

8,400

503

Real Estate segment

1,036

1,067

31

2,000

2,000(115)

360

1,610

1,249

2,900

3,600

1,720

97,804

104,576

6,771

209,500

209,500

10,402Others segment
Total

Operating profit
Six months
ended
September
30, 2021
Machinery businessIndustrial Machinery segment
Rock Drill Machinery segment
UNIC Machinery segment

Six months
endedYear-on-year
Septemberchange30, 2022

Fiscal year ending March 31, 2023
Previously
announced

Forecast

Year-on-yearchangeforecast

2,093

1,882(210)

5,300

5,200

520

33740413
1,057(324)
653

1,800
2,000

1,500
2,500

103
1,382

1,351

811(539)

1,500

1,200(965)Materials business

1,091

1,175

84

1,200

1,300(1,049)

Metals segment

452

492

40

0500(440)

Electronics segment
Chemicals segment

228
410

321
361

92(48)

600
600

300500(366)
(243)

361

424

62600

700(43)

Real Estate segment
Others segment

(30)

(59)

(29)

(30)

(100)

(117)

(Subtotal)

3,516

3,422

(93)

7,070

7,100(689)

Eliminations/corporate

(32)

(50)

(18)

(70)

(100)

(45)

3,483

3,372

(111)

7,000

7,000(734)

Total-7-Furukawa Co., Ltd. (5715)* Reference Information (the below values are reference values)
1. Industrial Machinery segment order balance
The Industrial Machinery segment mainly provides built-to-order manufacturing, and the order balance
as of the end of the second quarter is as follows.
As ofAs of
September 30, 2021 September 30, 2022
Order backlog¥9.1 billion¥12.7 billion

Year-on-yearchange¥3.6 billion

2. Profit or loss from metal price fluctuations in the Metals segment
Six months ended

Six months ended

September 30, 2021 September 30, 2022

Year-on-yearchangeOperating profit¥0.45 billion¥0.49 billion¥0.04 billion

Of which was due to pricefluctuations¥0.74 billion¥0.52 billion¥(0.21) billion[¥0.62 billion][¥0.08 billion][¥(0.12) billion][¥0.62 billion][¥(0.74) billion][¥0.54 billion]

CopperGold-8-